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Weekly forecast Silver technical chart
Symbol XAGUSD

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Trade Setup

#SILVER
Total Profit: 2547 point
Closed trade(s): 580 point Profit
Open trade(s): 1967 point Profit

Trade Setup:
We opened 10 BUY trade(s) @ 24.95 based on 'Valley' entry method at 2021.04.01.

Closed Profit:
TP1 @ 25.75 touched at 2021.04.15 with 80 point Profit.
TP2 @ 26.60 touched at 2021.04.21 with 165 point Profit.
TP3 @ 28.30 touched at 2021.05.18 with 335 point Profit.
80 + 165 + 335 = 580 point

Open Profit:
Profit for one trade is 27.76(current price) - 24.95(open price) = 281 point
7 trade(s) still open, therefore total profit for open trade(s) is 281 x 7 = 1967 point

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 25.75 is broken, we will close open trades.

DateJune 5, 2021 - 20:19
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • 25.75 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 25.75 is broken.

Technical analysis:

  • While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 28.55 on 06/01/2021, so more losses to support(s) 26.60 and minimum to Major Support (25.75) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 55.

Take Profits:

  1. 25.75
  2. 26.60
  3. 28.30
  4. 29.85
  5. 33.45
  6. 37.50
  7. 44.20
  8. 49.80
  9. 44200.00
Click on the level to view price action history.

Symbol Released Current Forecast
Silver (XAGUSD) new Sun, 20 Jun 2021
Silver (XAGUSD) Sat, 12 Jun 2021
Silver (XAGUSD) free Sat, 5 Jun 2021
Silver (XAGUSD) Sat, 29 May 2021
Silver (XAGUSD) Sat, 22 May 2021